The Confederation of Indian Textile Industry (CITI) on Monday said the return of Donald Trump as the next US President will bolster India's textile and apparel trade with its largest international market.
In 2023, the US accounted for approximately 27 per cent of India’s total textile and apparel exports, underscoring its crucial role in the industry’s global reach.
In the current financial year, India’s textile and apparel exports to the US during April-August increased by about 6 per cent compared to the same period last year.
“This outpaced the growth rates of key competitors, with China at 2 per cent, Vietnam at 0.4 per cent, and Bangladesh recording a decline of -2.2 per cent. India’s enhanced performance signals its growing preference among US buyers and highlights its increasing share in this critical market,” said CITI Chairman Rakesh Mehra.
Mehra emphasised that President Trump’s previous administration focused on reducing dependency on China by diversifying trade sources, a stance that aligns with India's aspirations to strengthen its position in the US market.
"With the new administration, the Indian textile and apparel industry is optimistic about expanding its role as an alternative supplier to China,” said Mehta.
However, a significant barrier remains in the form of high tariff rates, which for certain apparel categories can reach up to 32 per cent.
This restricts India’s ability to further increase its market share, said Mehta.
He further stated that new government will work closely with India to facilitate revisions in tariffs, thus positioning India as a key supplier of quality textile and apparel products to the US.
This could catalyse a new phase in India-US textile trade relations, providing a valuable alternative to China for American retailers and consumers alike, said the confederation.
Tripura CM launches startup policy to empower youth
To empower youths, Tripura Chief Minister Manik Saha on Friday launched the ‘Tripura Startup Policy-2024’, under which financial support would be extended to entrepreneurs engaged in Information Technology (IT) and Information Technology Enabled Services (ITES).
Only Tripura tableau from NE to be displayed at R-Day parade
From the eight northeastern states, only the Tripura tableau will be displayed this year during the Republic Day parade on Kartavya Path in New Delhi, officials said on Thursday.
Manipur on alert to prevent infiltrators from B'desh: CM Biren Singh
Manipur Chief Minister N. Biren Singh on Thursday said that the state on its eastern side has been facing illegal infiltration problems from Myanmar, adding an alert is also being maintained in the state's western as well as southern regions to block the illegal entry of people from the neighbouring country.
Foreign cigarettes valued at 3.38 crore seized in Mizoram, one arrested
Foreign cigarettes valued at Rs 3.38 crore were seized from Tuichang bridge areas of Lawngtlai district in Mizoram and one person was arrested in this connection, officials said on Thursday.
Colorful rally of Netaji Subhash Vidyaniketan dazzles in Agartala to mark Netaji’s birthday
Like every year, this year too, the colourful tableaus of Netaji Subhas Vidyaniketan school here at Agartala rolled over the streets of the capital town and captivated all with its dazzling display of culture and heritage.
NCLAT stays CCI ban on WhatsApp, Meta evaluating next steps
Mark Zuckerberg-run Meta on Thursday said it welcomes the decision of the National Company Law Appellate Tribunal (NCLAT) to stay the ban imposed by the Competition Commission of India (CCI) on WhatsApp and will evaluate next steps.
Delhi elections: Parties scale up poll campaign, top leaders to address rallies
With less than a fortnight to go for Delhi Assembly elections, the electioneering is reaching a feversish pitch with top leaders of respective parties hitting the streets to woo the electorate.
I-T raids on leading Tollywood filmmakers continue for third day
The raids were also continuing on the leading production houses Mythri Movie Makers and Mango Media. The department has not yet come out with a statement about the searches but it is believed that it identified a mismatch between the revenues earned by some recent movies and the income tax paid.